Architectural Coatings Market Size Worth $99.03 Billion By 2027 | CAGR: 4.8%: Polaris Market Research

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Jan 14, 2021, 07:30 ET

NEW YORK, Jan. 14, 2021 /PRNewswire/ -- The global architectural coatings market size is expected to reach USD 99.03 billion by 2027 according to a new study conducted by Polaris Market Research the market is anticipated to register a CAGR: 4.8% from 2020 to 2027. The global architectural coatings market is primarily driven by increasing construction activities, especially in emerging economies. Growing awareness related to safety and VOC emissions coupled with changing consumer preferences driving the market growth. Rising initiatives for maintaining green environments have resulted in a huge demand for quality materials, thereby augmenting the growth of the market. Furthermore, these type of coatings meets the norms of regulatory bodies for safety measures, expected to create lucrative opportunities for the market players. Moreover, key features such as eco-friendliness and high durability will have a positive impact on market growth.

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Key Highlights of Architectural Coatings Market

The acrylic segment dominating the market with its largest share contribution due to its heavy usage in major coatings projects. Acrylics have key characteristics of color and gloss retention which makes them preferable over other products.
Resident architectural coatings are emerged as the fastest application segment and are predicted to go at the same rate over the forecast period. Rapid economic developments and higher incomes have resulted in rising spending on home renovation activities, propelling the segmental growth.
The market in the Asia Pacific region is witnessing high growth and is projected to continue in the near future on account of because of increasing residential construction and growing beautification trend among homeowners along with rising per capita paints consumption.
XPEL, Inc., a leading manufacturer of protective films and coatings products has acquired Veloce Innovation, a global architectural film providers company. With this acquisition, XPEL is focusing on the expansion of its consumer base.

Regional Outlook & Growth Analysis

The substantial rise in the construction and refurbishment activities in Asian Countries, especially in India, China, Japan, Taiwan, and Thailand has resulted in an increased growth rate in the Asia Pacific region. In addition to this, rising aesthetic sense and increasing disposable income of regional consumers has fostered the demand for interior designing in commercial as well as residential sectors. Moreover, a massive green construction trend is observed in the region, thereby fueling the regional market. North America region is expected to grow at the fastest rate owing to the rising trend for the adoption of bio-based coatings and the growing popularity of specialized coatings.

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Market Participants Driving the Market Growth

Some of the leading players present in the architectural coatings market include PPG Industries, Inc., Akzo Nobel N.V., The Sherwin-Williams Company, Kansai Paints Co., Ltd., Asian Paints Limited, Nippon Paint Holdings Co., Ltd., BASF SE, Masco Corporation, Jotun Group, and RPM International Inc. Companies are started investing more in R&D activities to improve their product offerings and increase consumer base. The industry has witnessed several acquisitions, partnerships, and mergers as companies are looking to expand their business.

Target Audience

Supply Side: Manufacturer, distributor, and Supplier of Architectural Coatings
Demand Side: Commercial Spaces, Residential Application
Regulatory Side: Pipeline and Hazardous Materials Safety Administration (PHMSA)

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Polaris Market research has segmented the architectural coatings market report on the basis of resin type, technology, application, and region

Architectural Coatings, Resin Type Outlook (Revenue – USD Million, Volume – Kilo Tons, 2016 – 2027)

Acrylics
Alkyds
Epoxy
Urethanes
Vinyl
Others

Architectural Coatings, Technology Type Outlook (Revenue – USD Million, Volume – Kilo Tons, 2016 – 2027)

Water-borne
Solvent-borne
Powder

Architectural Coatings, Application Outlook (Revenue – USD Million, Volume – Kilo Tons, 2016 – 2027)

Residential
Non-Residential

Architectural Coatings, Regional Outlook (Revenue – USD Million, Volume – Kilo Tons, 2016 – 2027)

North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Spain, Netherlands, Russia)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

List of Key Players of Architectural Coating Market

PPG Industries, Inc.
Akzo Nobel N.V.
The Sherwin-Williams Company
Kansai Paints Co., Ltd.
Asian Paints Limited
Nippon Paint Holdings Co., Ltd.
BASF SE
Masco Corporation
Jotun Group
RPM International Inc.

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Waterborne Coatings Market By Resin (Acrylic, Polyurethane, Epoxy, Alkyd, Polyester, Vinyl Acetate, and Others), By End-use (Architectural & Decorative, General Industrial, Automotive, Wood, Marine, Metal Packaging and Others), By Regions, Segments & forecast, 2018 – 2026

About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to our customers.

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